Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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'Will AI steal my job?' Koreans among nationalities feeling most threatened by AI
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Korean shipping firms should achieve economies of scale through M&As: KPMG
Korean shipping companies could weather a downturn in the industry by achieving economies of scale through mergers and acquisitions, amid steady growth forecasts for the global cargo market, according to a latest report released by KPMG Samjong Accounting Corp.The Korean shipping industry had ranked fifth in the global market in 2009 on the back of government support, but it dropped to seventh place last year due to continued weak performance and a lack of investments. The industry has been in d
May 7, 2019
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Asiana to remove nonprofitable routes, first-class cabins
Asiana Airlines Inc., South Korea's second-biggest carrier, said Tuesday it will streamline its international routes and stop operating first-class cabins in September to cut costs ahead of its planned sales. Asiana said it will suspend operations of the nonprofitable routes from Incheon to Khabarovsk and Sakhalin in Russia and Delhi in India starting July 8, earlier than its originally scheduled September, Asiana said in a statement. Also, business suite cabins will replace the outgoing first-c
May 7, 2019
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[Sky’s the Limit] Centropolis sets new standard for Seoul’s office building market price
The Korea Herald is publishing a series of articles and videos about some of the most expensive and fascinating landmark office buildings in Seoul. -- Ed.In contrast with the cooling housing sector, the transaction volume for large-sized office buildings here grew at a record pace last year, exceeding the 10 trillion won ($8.8 billion) mark with the uptrend continuing this year.Among the mega deals was one prime building which accounted for about one-tenth of the city’s total real estate transac
May 7, 2019
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[Herald Interview] ‘Time to nurture investment culture in S. Korea’: KVCA chairman
South Korea’s venture capital industry finally appears to be headed toward a boom, after going through a rough patch during the dot.com bubble in the early 2000s and the global financial crisis that started in 2008. Last year alone, the country saw a record inflow of 3.8 trillion won ($3.2 billion) of venture investment. The figure for the first quarter of this year is poised to set a quarterly record. Based on such explosive growth, veteran venture capitalist Chung Sung-in, who took t
May 7, 2019
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Duty-free business becomes cash cow only for bigger players
Hanhwa Group’s decision to withdraw from the duty-free business from September due to ballooning losses -- some 117 billion won ($100 million) of accumulated operating losses -- has shaken the industry, though many had predicted the closure. “It is not an exaggeration to say that there were more employees than customers at Hanwha’s downtown duty-free store in Yeouido, although many visitors seemed to visit the landmark 63 Building where the store is located. The location was relatively less-visi
May 6, 2019
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‘Battlegrounds’ multi-view livestream to be on KT’s E-Sports Live
Telecommunications firm KT is doubling down on its 5G service with its new esports broadcast platform, E-Sports Live. KT will exclusively live stream PUBG Mobile Street Challenge, the official mobile esports competition of “Playerunknown’s Battlegrounds,” in 5G multi-view, the company said Monday.KT’s E-Sports Live is a game live streaming application that is limited to KT’s 5G subscribers. The super speed, low latency characteristics of the 5G network enable simultaneous watching of up to five
May 6, 2019
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Samsung takes second spot in global smartwatch market in Q1
Samsung Electronics Co.'s Galaxy Watch has gained popularity among Android phone users, coming in second to Apple Watch in the global market in the first quarter, an industry report showed Saturday.Global smartwatch shipments rose 48 percent on-year in the first quarter of 2019, as wearables with fitness tracker and health monitoring functions attracted more users, according to industry tracker Counterpoint. (Samsung)Apple Watch remained the world's most popular smartwatch with a 35.8 percent m
May 4, 2019
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Korean Air to raise fares on domestic routes from June
Korean Air said Friday it will increase fares on domestic routes by 7 percent starting next month to reflect rising fuel costs. The national flag carrier attributed the fare increase to an unfavorable business environment, due to rising oil prices and volatile exchange rates. (Yonhap)The increased fares will be applied to tickets for domestic travel beginning June 1, the company said in a statement. Korean Air hasn’t raised fares on the domestic routes in the past seven years due to tougher comp
May 3, 2019
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[Video] Blue Bottle Coffee opens first store in Korea
California-based Blue Bottle Coffee has opened its first cafe in Korea on Friday, making Korea the second international market for the company. Blue Bottle’s 1,300-square-meter store in Seoul will be located in Seongsu-dong, an area referred to as the “Brooklyn” of Seoul, according to the company. Blue Bottle Coffee Korea (Yonhap)“We tend not to open locations in the most commercial areas and we like to pick a location that has a strong community and reflects our values,” Bryan Meehan, CEO of Bl
May 3, 2019
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Korea, Kuwait to cooperate on renewable energy
South Korea and Kuwait are expected to expand cooperation on renewable energy, the government said Friday. Deputy Minister for Trade Kim Yong-rae, who accompanied Prime Minister Lee Nak-yeon on his visit to Kuwait, visited a test complex for layered solar power generation, which is operated by a joint consortium of the two nations on Thursday. The complex located within Kuwait’s Ministry of Electricity and Water has been jointly run by the ministry and Korea’s Kepco Engineering & Construction si
May 3, 2019
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Samsung Heavy wins $190m order for LNG ship
Samsung Heavy Industries has received a $190 million order to build one liquefied natural gas-carrying ship, according to its regulatory filing Friday. Under the deal, the Korean shipbuilder is slated to deliver the LNG ship by March 2022 to an Oceania-based ship owner. The name of the company was not disclosed due to confidentiality reasons. (Samsung Heavy Industries)So far this year, Samsung Heavy has won orders to build eight LNG ships and one floating production storage and offloading vessel
May 3, 2019
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[News Focus] Koreans join spike in demand for cruise tours
SEJONG -- South Korean travel agencies have actively diversified their overseas deals in terms of offering trips to various new destinations over the past decade.They have been competing to offer package deals for Eastern Europe involving Balkan countries, such as the Czech Republic, Hungary, Slovenia and Croatia. In the case of Southeast Asia, they have strived to attract customers by providing tours to destinations like Penang, Malaysia and Da Nang, Vietnam.Bracing for the 2020s, one of their
May 2, 2019
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Ministry postpones ESS fire probe report, industry suffers setback
The South Korean government has delayed releasing the results of its monthslong probe into successive fires at energy storage system facilities, further extending the suspension of ESS operations by battery makers already suffering from plunging sales in the first quarter. “We will announce the investigation results on the fires at energy storage system facilities as well as plans to strengthen ESS safety and foster the industry ecosystem next month,” said Park Jung-wook, chief of the Ministry o
May 2, 2019
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Asiana Airlines offers early retirement ahead of sale
Troubled carrier Asiana Airlines Inc. said Thursday it has offered a voluntary retirement program in an effort to make itself more attractive ahead of its planned sale.The early retirement offer covers Asiana employees with 15 years or more of continuous service at South Korea's No. 2 airline.Asiana will receive applications from volunteers till the middle of this month. Voluntary retirees will leave on June 30. (Yonhap)Early retirees will receive a lump-sum compensation equivalent to two year
May 2, 2019
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Samsung Biologics, GI Innovation sign second CDO deal
Samsung Biologics has signed a second contract development deal with bio venture firm GI Innovation, the firms announced Thursday. GI Innovation, founded in July 2017, researches novel drug candidates for inveterate cancer, immuno-deficiency diseases and metabolic diseases using a combination of microbiome and biologics platform. Microbiome refers to microbial ecosystem within the human body. GI Innovation and Samsung Biologics had signed their first deal in June 2018. Samsung Biologics' CEO Kim
May 2, 2019
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FM says S. Korea, US share same goal of NK denuclearization
South Korean Foreign Minister Kang Kyung-wha said Wednesday that Seoul and Washington are pursuing the same goal of North Korea's denuclearization despite a "tug of war" over the method to reach that goal. Speaking at a lecture on peace, Kang said that the views of the allies can't necessarily remain the same, but stressed the importance of bilateral cooperation to address differences and speak with "one voice." Speculation has lingered that Seoul and Washington may be at odds over how to ap
May 1, 2019
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South Korea envoy on North Korean nukes likely to visit S. Korea next week
South Korea and the United States are in the final stages of arranging US Special Representative for North Korea Stephen Biegun's visit to Seoul next week to discuss North Korean nuclear issues, sources said Wednesday.The sources said the foreign affairs bodies of the two countries are discussing final details of the trip set for May 8-10.In Seoul, the US special representative will hold a "working group" meeting with his South Korean counterpart, Lee Do-hoon, to discuss latest security developm
May 1, 2019
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US FDA permits sale of tobacco device Iqos
Philip Morris International announced Wednesday that the US Food and Drug Administration has officially approved the sale of its tobacco device Iqos.Iqos is a heat-not-burn tobacco device that has passed the premarket tobacco application submitted to the FDA, making it now legal for the company to market the product in the US. (Yonhap)Unlike e-cigarettes, which heat a nicotine-infused liquid, HNB devices such as Iqos are noncombustible devices that heat tobacco, generating a nicotine-infused aer
May 1, 2019
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[Advertorial] LS Group aims to revolutionize business with smart factory
South Korean conglomerate LS Group has been pursuing business transformation with massive investment in future technologies in the hope that the effort will advance its manufacturing process and boost sales overseas. Under the slogans of “R&D Speed-up” and “Digital Transformation,” LS Group has been increasing investment in developing key technologies for electricity infrastructure, smart energy systems and other digital transformation efforts. These initiatives are most notable in the compan
May 1, 2019
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Korean Air to remove first-class seats from 27 international routes
Korean Air said Wednesday that it will remove the first-class seats from 27 international routes beginning in June, leaving only two options -- economy and prestige -- on 76 of its 111 routes. The change is seen as a move by the air carrier to increase the efficiency and maximize the profitability of its flight services. (Korean Air)As of June 1, only 35 routes -- some 30 percent of Korean Air’s international flights -- will offer first-class seats. Currently, the air carrier does not offer a f
May 1, 2019